Feb 23, 2021
EU: Conference on the future of Europe is about to emerge from limbo
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UA decisive agreement seems within reach with a view to the imminent start of a “Conference on the future of Europe”.The project has been decided for over a year. But it is slow to take off. “We are in the final phase of interinstitutional negotiations (Editor’s note: with the European Parliament and the Commission). We hope for an agreement again this week, ”said on Tuesday, with optimism, the Portuguese Secretary of State for European Affairs Ana Paula Zacarias.
The one whose country currently holds the six-monthly presidency in turn of the work of the EU provided an update on the preparations for this high mass. She was speaking after an informal videoconference meeting with her EU counterparts.
News Source: cvbj.biz
VW electric car compares well to Tesla, according to UBS
(Bloomberg) – A teardown of Volkswagen AG’s first dedicated electric vehicle found it compares favorably to Tesla Inc. models in several key respects, sending the German automaker’s shares to levels last seen before the scandal. of diesel emissions.
Deep dive into ID.3 by analysts at UBS Group AG found that the platform underpinning VW’s electric models will be completely cost-competitive with Tesla and feature best-in-class energy density and efficiency. Analysts led by Patrick Hummel called the car “the most credible electric vehicle effort made by any legacy auto company yet.”
VW’s ordinary shares rose as much as 5.6% to 209 euros, the intraday highest since July 2015, the month future chief executive Herbert Diess came to the company from BMW AG.
The UBS assessment is the latest positive development for an electric vehicle that got off to a rocky start last year. Covid-19-related production issues, software glitches and outages stained the launch of the ID.3 and cast doubt on the ability of traditional automakers to offer products that can compete with models like Tesla’s Model 3. While other traditional manufacturers have converted existing combustion engine cars to electric vehicles, VW chose to take a more radical approach in the wake of emissions irregularities.
VW is primarily targeting Europe with the ID.3 hatchback, which will be flanked this year by its sibling, the ID.4 crossover. The latest model will be produced in China and the US, in addition to Germany. The VW group brands Audi, Skoda and Seat will also introduce vehicles this year that share the fundamentals for increasing economies of scale. Ford Motor Co. will also license VW’s modular electric vehicle platform to build a compact car in Europe, adding additional volume.
VW plans to at least double the proportion of its sales that are all electric this year to between 6% and 8%, suggesting it could narrow the gap with Tesla by increasing deliveries to roughly 700,000 cars. Tesla expects to deliver at least 750,000 vehicles in 2021.
“VW might not be the Apple, but the Samsung of the electric vehicle world, with high-volume, profitable EV brands,” said UBS’s Hummel. He estimates the ID.3’s gross margin to be around 15%, “now almost in line” with VW’s combustion-era Golf model.
Original Note: VW’s Electric Car Stacks Up Well Against Tesla in UBS Teardown
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